Vancouver, Canada: Transeuro Energy Corp. ("Transeuro" or the "Company") reported today that the Company will extend the subscription period for the NOK 75-130 million secured bond issue in the market. The Board of Directors has decided to extend the subscription period until 16:00 CET on Friday, March 19th, to allow a number of larger investors sufficient time to evaluate the investment proposal more thoroughly. The main purpose of this bond is to secure funds to complete the Karl-101 well in Ukraine, to settle the Series A debenture with full repayment of CDN$2 million, and to secure working capital for the next 12-18 months.

Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company's properties are located in Canada, Armenia, and Ukraine. In addition, the Company owns shares in Eaglewood and holds a back-in option to their exploration licenses in Papua New Guinea.

The TSX Venture Exchange and Oslo Bors have not reviewed, and do not accept responsibility for the adequacy or accuracy of the content of this news release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

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